The Pound is soaring after UK CPI posted the lowest year on year increase in 18 months, and bounce at 1.6210 extends to levels at 1.6430 resistance.
In case of further climbing above 1.6430, next resistance levels
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The Pound extends recovery to levels above 1.6400
Tuesday, June 16, 2009Euro-Zone Inflation Stalls At Record Low In May
The euro zone's annual inflation rate dropped to a record low of zero in May, cementing expectations it will turn negative in the coming months due to the drop in fuel prices over the past year, final official data showed Tuesday.
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East Europe May Inflation Rates Too High For Euro-Zone Entry
None of the eastern European candidates to join the euro zone had inflation rates low enough to do so in May, according to figures released Tuesday by European Union statistics agency Eurostat.
Poland and other eastern European members of the European Union have said they want to secure rapid entry into the euro zone as their currencies have come under pressure with the withdrawal of foreign capital in response to the global financial crisis.
Euro-Zone 1Q Labor Costs +3.7% YY Vs +4.0% YY 4Q
Labor costs in the 16 countries that use the euro eased in first quarter of 2009 from the record high rate in final quarter of 2008, while wage costs also dropped back over the same period, European statistical agency Eurostat said Tuesday.
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German June ZEW Economic Expectations 44.8 Vs 31.1 In May
German economic expectations in June rose to 44.8 from 31.1 in May as experts predict a recovery will start by year-end, the Center for European Economic Research said TuesdayThis is the highest reading since May 2006
Euro returns to levels above 1.3900 after ZEW data
The Euro has extended its gains after the sharp improvement of German ZEW Economic Expectations Index and, rebound from 1.3745 low has reached an intra-day high at 1.3922.
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www.ONN.tv Analyst Kevin Cook on the Euro and Currency Manager Performance
Monday, December 29, 2008
In the latest edition of “FX Overnight” on Mark2Market, www.ONN.tv currency analyst Kevin Cook highlights the euro’s solid footing against the dollar since the FED’s move to “quantitative easing” launched it above resistance at $1.38. As the demand for U.S. dollars subsides, and “risk appetite” re-appears on the menu of global investors, short-term and long-term views of the EUR/USD exchange rate are surfacing that are dominated by the euro’s perceived superior position in terms of both interest rates and debt. Short-term, the yield differential between the two nation’s interest rates offers a potential for carry trades. Longer-term, investors are beginning to contemplate the size of the U.S. debt balloon and what happens when Treasuries lose their luster.
Cook also updates an intriguing correlation he’s been watching for months between the EUR/USD exchange rate and FX fund manager returns in 2008. As the euro cascaded from its double-top around $1.60, most FX managers were caught on the long side and took their time bailing out. In early December, with the most important currency pair establishing a base above $1.25, Cooked asked, “Will we discover that most currency managers stayed long, or did they finally reverse their positions now only to be caught short in this breakout above $1.30?” Today, he shows the fresh data that answers this question.
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British Pound Outlook Bearish Against Downtrodden US Dollar
Sunday, December 28, 2008GBP/USD ratio: 1.64
Trading Forecast: Bearish
GBPUSD –The ratio of long to short positions in the GBPUSD stands at 1.64 as nearly 62% of traders are long. Yesterday, the ratio was at 1.35 as 57% of open positions were long.
In detail, long positions are 18.0% higher than yesterday and 25.7% stronger since last week. Short positions are 2.5% lower than yesterday and 49.9% weaker since last week. Open interest is 9.3% stronger than yesterday and 44.7% below its monthly average.
The SSI is a contrarian indicator and signals more GBPUSD losses.
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